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Informist, Wednesday, Dec. 3, 2025

 

--Minister Goyal: Anxiously waiting for MPC outcome after Q2 GDP amid low CPI 

 

NEW DELHI – Commerce Minister Piyush Goyal Wednesday said he is "anxiously awaiting" the Reserve Bank of India's Monetary Policy Committee's decision Friday after the strong GDP growth print of 8.2% in the September quarter amid low inflation in the country. The three-day meeting of the rate-setting panel began Wednesday.

 

India's CPI inflation, which averaged 1.7% in Jul-Sept, fell to a record low of 0.25% in October. Meanwhile, India's GDP growth was at a six-quarter high in the September quarter. After the strong GDP growth print, most economists are of the view that the Monetary Policy Committee is likely to maintain status quo with the repo rate at 5.5%.

 

While the economy is doing well, Goyal hopes the manufacturing sector's growth reaches close to 12% from the current 9%. This will enable the sector to constitute 25% of the GDP, he said at the Confederation of Indian Industry's IndiaEdge 2025. The manufacturing sector currently contributes 15.7% to GDP.

 

"India's merchandise exports are also on a strong wicket," Goyal said. After falling 11.8% in October, goods exports for November were up on year, he said. The commerce ministry is likely to release the trade data for November closer to Dec 15.  End

 

Reported by Krity Ambey

Edited by Rajeev Pai

 

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